Cash advance payday loans
Do you really want to sink that kind of cash into the home?
There are lots of things to think about and I always want my people (clients or potential clients) to really think about what they are doing before they do it. After waiting 30 days and receiving a 3 cash advance payday loans modification packets and two phone calls from chase which I did not respond to I decided to call chase to loans online fast settle.
When I called they connected me with the loss and mitigation department and said they would be the department that would handle a settlement on best cash loans the charged off debt. I spoke with my lawyer last week and he agreed that a chapter 13 strip after our chapter 7 ( Chapter 20) would be a reasonable option if we have no equity but said a settlement would be easier. I told him if my house was truly worth that much then the bank would have already been after me to foreclose. He said in order to proceed they would need to come and perform an interior 5-10 minute inspection to asses the homes value. Not sure if I should let them perform an interior inspection (might just be more fuel for their fire)?? Chase is likely saying what they are in order to spook you and seems to be working.
They have trained negotiators to deal with you and prefer to communicate by phone to keep that advantage. They can now sit back while you stew and are more receptive in 10 days.
I am happy to update you that we have agreed to a settlement!! Suggestions on which method will be best to send the money ( cashiers check?
The letter that Chase will send you should have the correct verbiage that you are looking for in regards to the loan payoff and release of lien. Just make sure you look over it carefully and if you want to run it by us when you receive it, then please do so.
The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem.
The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. We must receive this amount no later than June 16, 2014 or this offer will be withdrawn.
They should just release the lien as it states and leave your credit report alone. Not cash advance payday loans answered the phone nor responded to the letters. Being a self loans in utah employed real estate investor with most of my properties underwater, cashflow has been dismal. Does anyone have thoughts on what tactics to deploy at this time to negotiate-down the payoff?
Fyi Im current on my first low interest rate personal loan with Wells Fargo and the HELOC is under water based on my current market value.
Not answered the phone nor responded to the letters. Being a self employed real estate investor with most of my properties underwater, cashflow has been dismal. Does anyone have thoughts on what tactics to deploy at this time to negotiate-down the payoff? Fyi Im current on my first with Wells Fargo and the HELOC is under water based on my current market value. I got the same letter, same timeline, different amount. I spoke with the Rep and she told me that it was a one time offer.
She then told me that, if I were to pay later, it would cost more and I would have to provide financials. I also had asked her to send me a revised offer letter which would state that the lien would be extinguished, not may be extinguished. I have asked twice for this type of letter, which they told me they would do, like they have had to do for many others.. The rep at Chase called me yesterday after I left a message with him. I got the same letter, same timeline, different amount. I spoke with the Rep and she told me that it was a one time offer. She then told me that, if I were to pay later, it would cost more and I would have to provide financials. I also had asked her to send me a revised offer letter which would state that the lien would be extinguished, not may be extinguished.
I wonder who is setting the parameters regarding payback scenarios. But, a couple of months ago, Chase took back management of the second and began to contact me via mail and an Offer to settle. I have a great modification on my first guaranteed credit approval mortgage with them.. The rep at Chase called me yesterday after I left a message with him. Then, a couple of years later, I filed BK13, primarily to strip the second mortgage. This meant that I could actually afford my dream home and retire in a few years.
Yet, the Chase second had been charged off and sent to Five Lakes Agency, and then sent back to Chase. I called and told them, that I could do this in March of 2015. They told me that, if I were to pay later, that it would cost me more, and that, they would need to obtain financial information from me. I will have to cash out a retirement account, losing money on the deal, yet keep my home, which is money well placed. I have even read the cool stories about seconds being extinguished. My second was a purchase money second, and I am in California, if that matters. They gave me a great deal on one, and the other is still out there, unresolved. I would try to see if Chase will tell you what they believe the property is worth.
I would also get a local real estate agent to give you a BPO to see how it compares. This will be the most current approximation of the value.
You might even tell the agent you want to know what the home would go for as a FC sale. Once you know this you may have some leverage if the BPO shows the property would sell much less than the outstanding balances of the loans plus cost to FC. From there how you handle it will likely depend on your goal and if you want to stay in the home or eventually walk away. Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages.
We have three young kids with activities and expenses this new payment puts us way over the top. We have an 10 year interest only 1st payday loans in dallas tx mortgage and HELOC of which both are adjusting and moving to a principle and interest 20 year mortgage. We have assets in our 401K, IRA and 529 but no taxable account assets. We were told we were eligible for either a short sale or deed-in-lieu of foreclosure via their form letter. We have talked to one attorney and she recommended that we continue to pay the HELOC. This shows Chase that we are making an attempt and once we go past due on the 1st we could start the conversation with Chase to see if they would work with us. I thought this was interesting because if anything is going to go our direction the HELOC would be gone at the end of the day…it has no equity supporting it.
The situation would be that the 1st mortgage would be past due but the HELOC would be current? We understand going past due will destroy our credit but our options are limited at this point. My dream scenario would be to give us a mortgage base on the current value of the home. I have seen this type of scenario about a thousand times over the last 8 years.
Each and every time, the mortgage servicer had denied the loan modification and refused to work with the homeowner. The reason being is that you can afford the payment and are choosing to strategically default. You have given them your financials which shows this to them and now they have the ammo they need in case you deiced to walk away. Banks like Chase do not care and have billions and billions of dollars in backing. Hope cash advance payday loans for the best, but definitely plan for the worst. The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice.